49365-001: Capital Market Development Program | Asian Development Bank

Sri Lanka: Capital Market Development Program

Sovereign (Public) Project | 49365-001 Status: Closed

A PPTA is required to effectively formulate the program which will support the government's commitment to meaningful capital market reform. The PPTA will build upon the ten point agenda (please refer to Appendix 5) that was established by Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE).

Project Details

Project Officer
Lambert, Donald J. South Asia Department Request for information
Country
  • Sri Lanka
Modality
  • Technical Assistance
Sector
  • Finance
 
Project Name Capital Market Development Program
Project Number 49365-001
Country Sri Lanka
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9105-SRI: Capital Market Development Program
Technical Assistance Special Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance / Money and capital markets

Gender Equity and Mainstreaming No gender elements
Description A PPTA is required to effectively formulate the program which will support the government's commitment to meaningful capital market reform. The PPTA will build upon the ten point agenda (please refer to Appendix 5) that was established by Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE).
Project Rationale and Linkage to Country/Regional Strategy The PPTA is necessary to effectively formulate the Capital Market Development Program (CMDP) which will support the Government's commitment to meaningful capital market reform. The objective of the PPTA is to identify policy measures to support the development of a robust financial markets system in Sri Lanka that is well balanced, sustainable and resilient and that is able to effectively intermediate savings to finance investment.
Impact
Project Outcome
Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation A stakeholder seminar was held in June 2016 that provided an overview of the consultant's findings and recommendations.
Business Opportunities
Consulting Services The PPTA was implemented over 6 months, from April 2016 to September 2016. The consulting contract with ISC was awarded in June 2016. A team of 9 international consultants and 8 domestic consultants provided a total of 25 person-months of consulting services. Consulting firm was recruited, using the quality- and cost-based selection method with a standard quality-cost ratio of 90:10 because of the highly specialized expertise needed. ADB engaged the consulting firm in accordance with the Guidelines on the Use of Consultants (2015, as amended from time to time). The selection of the consulting firm was based on the submission of a simplified technical proposal and effected by the quality- and cost-based selection process.
Responsible ADB Officer Lambert, Donald J.
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Ministry of Finance and Planning
P.O. Box 277
The Secretariat Building, Colombo 1
Sri Lanka
Ministry of National Policies and Economics Affairs
"Miloda" (Old Times Building), 1st Floor,
Bristol Street, Colombo 01
Timetable
Concept Clearance 15 Apr 2016
Fact Finding -
MRM -
Approval 20 Apr 2016
Last Review Mission -
Last PDS Update 20 Sep 2016

TA 9105-SRI

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
20 Apr 2016 02 Jun 2016 02 Jun 2016 30 Sep 2016 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
500,000.00 0.00 0.00 0.00 0.00 0.00 500,000.00 20 Apr 2016 464,552.55

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


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Tenders

No tenders for this project were found.

Contracts Awarded

Contract Title Approval Number Contract Date Contractor Contractor Address Executing Agency Contract Description Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
Project Preparatory Technical Assistance 9105 03 Jun 2016 International Securities Consultancy Ltd. (Hong Kong, China) in association with KPMG Ministry of National Policies and Economic Affairs 500,000.00

Procurement Plan

None currently available.